Saica breaks its audit links with KPMG

JOHANNESBURG - The South African Institute of Chartered Accountants’ (Saica) board had accepted their auditor’s KPMG offer to resign as Saica’s external auditors, citing possible perceived independence concerns if they were to perform the 2018 audit as a result of the current Saica-appointed Ntsebeza inquiry, it said on Friday.

The inquiry has been looking into some of the former and current KPMG-employed chartered accountants, around allegations linked to the Guptas.

The inquiry should be concluded by the end of this month. Saica said it willbegin a tender process to appoint external auditors and its board will table a progress report on this process to its members at the Annual General Meeting on June 26.

"The board also wishes to advise that, following the completion of the tender process, a Special General Meeting will be called to approve the appointment of the recommended audit firm,” it said.